MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: Benkea who wrote (18801)	6/29/1999 4:20:00 PM
From: briskit	Read Replies (4) of 99985

Benkea, let me make an observation about CMGI as an indicator. Three weeks ago it was unable to trade above resistance at about this level. It got to 113 on June 8 only to fall back below 110. It seems premature to call this a clear breakout when this volume has gotten it back to that price level, but failed to hold 113 again. I think it is at a critical resistance level right here. It is, however, above every MA and resting at the top of the Bollinger band. We will see how the market reacts tomorrow. Good trading.

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